C000253931 Fees and Costs — Large-Cap Plus Bond Alpha Portfolio, Class P
Data updated: 2026-08-11
The net expense ratio is 0.46%: a 0.45% management fee plus 0.06% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $22K in broker commissions, 0.0026% of average net assets, and portfolio turnover was 18%.
C000253931 Fees and Expenses
Annual operating expenses and sales charges of C000253931. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | — |
| Other expenses | 0.06% |
| Gross expense ratio | 0.51% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.46% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
C000253931 Costs Over Time
On $10,000 invested in C000253931, assuming 5% a year before costs, total costs come to $292 over 5 years, cutting the return by 0.49% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.46%) | $48 | $152 | $264 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $8 | $27 |
| Total costs | $49 | $160 | $292 |
| Value after costs | $10,451 | $11,416 | $12,470 |
| Impact on return, per year | 0.49% | 0.49% | 0.49% |
C000253931 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0026%
- Total broker commissions: $22K
- Bought from dealers (principal trades, not a cost): $2.4B
- Portfolio turnover (prospectus): 18%
- Securities on loan, average value: $7.3M
- Net income from securities lending: $9K (0.001% of average net assets)
C000253931 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $19K | 85.77% |
| Goldman Sachs & Co. LLC | $3K | 14.23% |
C000253931 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities, LLC | $916.8M | 43.96% |
| Morgan Stanley & Co. LLC | $382.8M | 18.36% |
| Goldman Sachs & Co. LLC | $199.4M | 9.56% |
| J.P. Morgan Securities LLC | $136.3M | 6.53% |
| Deutsche Bank Securities Inc. | $128.4M | 6.16% |
| BMO Capital Markets Corp. | $74.7M | 3.58% |
| Barclays Capital Inc. | $65.5M | 3.14% |
| Citadel Securities LLC | $64.8M | 3.11% |
| Daiwa Capital Markets America Inc. | $58.4M | 2.80% |
| Citigroup Global Markets Inc. | $58.3M | 2.80% |
Large-Cap Plus Bond Alpha Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000253931 | Class P | 0.46% | — |
| C000253932 | Class I | 0.66% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.